Ero Copper Corp. (NYSE:ERO) Receives Average Recommendation of “Buy” from Brokerages

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.33.

Several research firms have recently commented on ERO. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Bank of America initiated coverage on Ero Copper in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company.

Hedge Funds Weigh In On Ero Copper

Several large investors have recently added to or reduced their stakes in the business. Impala Asset Management LLC increased its stake in shares of Ero Copper by 12.7% during the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after acquiring an additional 248,390 shares during the last quarter. Jennison Associates LLC grew its holdings in Ero Copper by 4.3% in the third quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock valued at $127,149,000 after purchasing an additional 237,345 shares during the period. FMR LLC increased its position in Ero Copper by 1.8% during the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after purchasing an additional 206,405 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in Ero Copper by 41.2% during the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock worth $12,080,000 after purchasing an additional 158,294 shares during the period. Finally, Mirabella Financial Services LLP boosted its holdings in shares of Ero Copper by 608.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock valued at $3,189,000 after purchasing an additional 123,023 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Price Performance

Shares of NYSE ERO opened at $12.81 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $16.85 and its 200 day moving average price is $19.26. Ero Copper has a 52 week low of $12.81 and a 52 week high of $24.34. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 75.35 and a beta of 1.12.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.